Townsend v. Cowles
Supreme Court of Alabama
Appeal from the Circuit Court of Montgomery. Tried before the Hon. E. W. Pettus. This action was brought by the appellants, and was founded on the defendant’s guaranty of a promissory note for $581 50, made by Rudler & Rockwell, dated September 28, 1849, and payable eight months after date, to the plaintiffs’ order. The guaranty was endorsed on the note before its maturity, and was in these words: “I guaranty payment of the within, ” (signed) “ George Cowles.”
Read the full summary
Appeal from the Circuit Court of Montgomery. Tried before the Hon. E. W. Pettus. This action was brought by the appellants, and was founded on the defendant’s guaranty of a promissory note for $581 50, made by Rudler & Rockwell, dated September 28, 1849, and payable eight months after date, to the plaintiffs’ order. The guaranty was endorsed on the note before its maturity, and was in these words: “I guaranty payment of the within, ” (signed) “ George Cowles.” On the trial, after the plaintiffs had read in evidence the note and endorsement, the defendant offered to read a letter written to…
1Opinion of the CourtWalker, J.
— According to the settled law in this State, the guaranty sued on, which was made before the maturity of the note, imports an absolute engagement to pay the debt when due, in default of payment by the makers. — Donley v. Camp, 22 Ala. 659; Walker v. Forbes, 25 Ala. 139.
The guarantor, without contesting the law above stated, successfully resisted a recovery in the court below, by parol proof that, by the agreement under which the guaranty was given, he was to be liable only after a prosecution of the makers of the note “to judgment and insolvency;” and by proof that the payees had, by letter,…
2Cases cited15 opinions
- Holley v. YoungeSupreme Court of Alabama · 1855
- Russell v. BranhamIndiana Supreme Court · 1846
- Donley v. CampSupreme Court of Alabama · 1853
- Mardis' Adr's v. ShacklefordSupreme Court of Alabama · 1842
- Walker v. ForbesSupreme Court of Alabama · 1854
10 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Ramey v. AllisonTexas Supreme Court · 1885
- Corley v. VizardSupreme Court of Alabama · 1919
- Murray v. TolmanIllinois Supreme Court · 1896
- Fegley v. JenningsSupreme Court of Florida · 1902
- Planters' & Merchants' Mutual Insurance v. Selma Savings BankSupreme Court of Alabama · 1879
24 more not listed; retrieve them via the Exa API.